Protected B when completed
Home Buyers' Plan (HBP)
Request to Withdraw Funds from an RRSP
Use this form to make a withdrawal from your registered retirement savings plan (RRSP) under the Home Buyers' Plan (HBP). Fill out Part A of Area 1 to
determine if you are eligible to make a withdrawal from your RRSP under the HBP. Although some conditions may apply to another person in certain situations,
you (the participant) are responsible for making sure that all the conditions are met. For more information about the HBP, including changes to the rules for
first-time home buyers, go to canada.ca/home-buyers-plan. Generally, you must receive all your HBP withdrawals in the same calendar year. The
maximum you can withdraw is $35,000. Fill out Area 1 and give the form to your financial institution who must fill out Area 2. Keep a copy of the completed
form for your records.
Area 1 – To be filled out by the participant
Part A – Fill out the following questionnaire to determine if you can make a withdrawal from your RRSP under the HBP
1.
Are you a resident of Canada?
Yes – Go to question 2.
No – You cannot make
an HBP withdrawal.
2.
Has the person buying or building a qualifying home * entered into
a written agreement * to do so?
Yes – Go to question 3a.
No – You cannot make
an HBP withdrawal.
3a).
Have you ever, before this year, withdrawn funds from your RRSP
under the HBP to buy or build a qualifying home?
Yes – Go to question 3b. No – Go to question 4.
3b). Are you making this request in January as part of the participation
you began last year?
Yes – Go to question 4. No – Go to question 3c.
3c).
Was your repayable balance from your previous HBP participation
zero on January 1 of this year?
Yes – Go to question 4.
No – You cannot make
an HBP withdrawal.
4.
Do you intend to occupy the qualifying home that you are buying or
building as your principal place of residence no later than one year
after buying or building it? If you are acquiring the home for a
related person * with a disability or helping a related person with a
disability acquire the home, you must intend that the related person
with a disability occupy the home as his or her principal place of
residence no later than one year after buying or building it.
Yes – Go to question 5.
No – You cannot make
an HBP withdrawal.
5.
Has the person who is buying or building the qualifying home or his
or her spouse or common-law partner owned the qualifying home
more than 30 days before receiving this withdrawal?
Yes – You cannot make an HBP withdrawal.
However, If you are making this
withdrawal after 2019 to acquire the
interest or right of your separated
spouse or common-law partner in the
home, go to question 8a) to confirm
your eligibility.
No – Go to question 6a.
6a). Are you a person with a disability?
Yes – You are eligible (fill out Part B). No – Go to question 6b.
6b).
Are you withdrawing funds from your RRSP to buy or build a
qualifying home for a related person with a disability or to help such
a person buy or build a qualifying home?
Yes – You are eligible (fill out Part B). No – Go to question 7.
7.
At any time during the period beginning January 1 of the fourth year
before the year of the withdrawal and ending 31 days before the
date of the withdrawal, did you or your spouse or common-law
partner own a home that you occupied as an individual with a marital
status of single, or with that other individual while you were spouses
or common-law partners?
Yes – You are not considered a first-time
home buyer *, and you cannot make a
HBP withdrawal. However, If you are
making this withdrawal after 2019 and
experienced a breakdown of marriage
or common-law partnership, go to
question 8a) to confirm your eligibility.
No – You are eligible
(fill out Part B).
Notes
1. Qualifying home – a qualifying home is a housing unit located in Canada. This includes existing homes and those being constructed. Single-family homes,
semi-detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings all qualify. A
share in a co-operative housing corporation that entitles you to possess, and gives you an equity interest in a housing unit located in Canada, also qualifies.
However, a share that only provides you with a right to tenancy in the housing unit does not qualify. For condominium units, you are considered to own the unit
the day you are entitled to immediate vacant possession of it.
2. Written agreement – a written agreement must include the date the agreement was signed, the address of the qualifying home and the closing date.
3. Related person – a person connected to you by a blood relationship, marriage, common-law partnership, or adoption (legal or in fact). For more information,
see Income Tax Folio, S1-F5-C1, Related Person and Dealing at Arm's Length
.
4. First-time home buyer – you are considered a first-time home buyer if, in the period that begins on January 1 of the fourth year before the year you withdraw
funds from your RRSP, and ends 31 days before the date you withdraw the funds, you did not occupy a home that you owned, or one that your current spouse
or common-law partner owned. For example, if you are withdrawing the funds on July 31, 2020, the period is from January 1, 2016 to June 30, 2020.
(Continued on next page)
T1036 E (20)
(Ce formulaire disponible en français.)
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